Interesting that the real live non-advocate analysts of the EIA didn't say that. But those who can't stand the idea of what the US has managed to do, in terms of energy production, 45+ years after peakers proclaimed oil and gas peak.

StarvingLion wrote:so to correct the the title, The U.S. ,degenerative entity converging towards Zimbabwe

because it deeply believes in fake money and free electricity from the electromagnetic spectrum.

I understand the title might be disturbing to those who can't even address the facts demonstrated by non-advocate analysts...to whit...the US is THE energy super-producer on this planet. 45+ years after the prophets of peakers proclaimed it peaked in oil and gas production.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

So in your world, tight oil fracked from shale is a problem because the US isn't on a gold standard? Hint: We weren't on a gold standard for about 4 decades before net US new LTO production led to the current glut.

And renewables are "useless" in your mind because:

1). A battery can't be charged by a solar roof if a cloud passes over once in a while?

2). Batteries don't exist?

3). Energy is only "real" if a FF is burned to produce it?

4). Wind is useless besides the fact that it now produces a tremendous amount of energy, and rapidly growing year by year?

...

Do you ever write anything with substance, BTW?

Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.

Oh please. If that were the standard for posting the entire ETP thread would have been erased 4 minutes after it was first thrown out there to generate report sales. And this is a PEAK OIL website, supposedly, and the entire concept has been polluted with ideas without substance by the oil-amateurs that you are, in effect, advocating for its dissolution.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

“Law firm Haynes and Boone LLP said the U.S. oilfield sector experienced 127 bankruptcies between 2015 and April 2017.

Among the 10 largest oilfield service providers, just five were profitable last quarter, the same number as a year ago.”

I could dig this stuff up all day:

And how many are there in existence, to compare to? And how does that number compare to the real energy crisis of the mid-1980's?

Some people, those who can't be bothered to learn anything about the industry, don't even know that Drake borrowed money to drill his first oil well. And he died broke. You haven't come up with nothing new, only demonstrated that you don't even understand that during the best of times, companies go bankrupt. Moreso during down cycles. But the consumer doesn't care, because down cycles tend to equate to lower prices, and if there is one thing that the oil companies have been able to count on for more than a century and a half now, it is people exactly like you pstarr, continuing to buy their products no matter how much you whine about their existence. Industry thanks you pstarr, for not having the courage of your convictions. Keep up the good work!

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

pstarr wrote:Same ole, same ole, same ole diversions. Plus the weird key words? Drake's well, peak oil 1887, Laheurre is a meany, you are a doomer.

I've said it before, peak oil ignorance of oil industry (and even peak oil) history is legion.

I visited the Rathbone well 2 weeks ago, you wouldn't be familiar with that one either, because you lack historical perspective. You believe in peak a decade ago that isn't bothering you today, or much of anyone else. But keep using petrochemical products pstarr, industry thanks you for your patronage.

pstarr wrote:Adam you have become a broken record. Quick question: how does the United States become an energy superpower when it imports half it's oil.

If you lack the intellectual capacity to understand the well explained graphic provided by the EIA, find a 8 or 9 year old to explain it to you.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

I have exactly that picture in my phone now. Also others, showing the production equipment they've sort of attempted to rig up.

pstarr wrote:Aren't such field trips below your pay grade.

They come in handy during petroleum geology and history presentations. Anyone can google up wiki learning, as you often demonstrate. I've got pictures of the newer production equipment on the well, in addition to the older, more original equipment it looks as though they want to turn into a working demonstration. Try and wiki that up. Could you provide an estimate of the type of rig setup you would need to pull the old rods out, replace the pump, maybe the rods as well? Assuming you want to, or someone is paying you to, from your vast wiki knowledge..

Stick with drinking beer and enjoying a good clear cutting pstarr, things you have demonstrated an ability for. Leave the oil stuff for the adults.

pstarr wrote: Something you usually assign to the explorations engineers.

May I recommend you stop using wiki, or worse yet making it up, it just makes it obvious that you don't know anything. You don't have to keep proving it.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

pstarr wrote:Today one single Bakken well also produces 100 barrels of oil a day. It cost $10 million and uses more than a boulder . . . 2 to 10 million gallons of H2O, 1,400 truck trips and 4 million pounds of proppant. And you still don't understand the thermodynamic issue we have here? Astounding. Really unbelievable

The EIA graph discusses how the US is THE global energy producing superpower. It is clear, and concise in that regard. Go pollute some other thread with what you think you were taught about thermodynamics at the Stoner Instructional Complex. Got pictures of that one while checking into the Drake and Hart wells. Have you ever done or learned anything in meat space that allows you to post better here on these topics ? Other than the drinking and enthusiastic spectating at those clear cutting events.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

And more of the rediculous and so often misused “Ponzi scheme”. The Rockman has seen a number of cons in the oil patch over the years. Even aided the Texas Rangers to make arrests of some crooks years ago. But none of what he’s seen was structured as a Ponzi play. And for a simple reason: operators that don’t drill commercial wells don’t have production to “salt” future projects with. Typically they use the COMMERCIAL SUCCESSFUL efforts other companies and misrepresent their ability to reproduce them. IOW they can’t be using revenue from successful drilling going to previous investors because they don’t have them. The SEC doesn’t not investigate the validity of any proposed drilling investment. What it is good at in verifying reserves and cash flow of a pubco. IOW a con man doesn’t have such data to pitch.

pstarr - "The formula is simple: Money from new investors is used to provide a return to initial investors." And you prove my point perfectly. If a con man doesn't drill commercial successes in the first place he doesn't have a nice revenue stream "to return to initial investors", does he? Didn't want to take up space describing common oil patch come but I guess I must.

The cons I helped the Rangers bust. Back in the 90's during the big Austin Chalk carbonate shale boom. An operator (i.e. crook) drilled a hz well and "tested" it...great results. Remember the SEC doesn't check/verify such data. The story: before providing this well bore the wanted to drill a second hz well out of the same very. well bore at 90° to the first. Not uncommon at the time but usual at 180° in opposite direction: typically a very economic approach.

The con men set up a phone bank on my floor. Thinking everyone in the oil patch were crooks he showed me the proposal. First clue: the cost estimate to drill was 3X what it would actually take. Second clue: the test of the first hz well bore much too short to be meaningful.

So the Rockman called the state Att. Gen. in Austin. They looked up the company name and said they had shut down their Dallas office. Told them them they set up new office in Houston. One on Rockman's great disappointments was not being there a few weeks later when Texas Ranges hauled the two managers off in hand cuffs. But my partners were and they Ade it clear we were responsible.

Now the biggest sale flip: Petrohawk sold their Eagle Ford position for $12 BILLION to BHP Billiton. I saw the original prospective. All aboveboard and no misrepresentations. All Billiton had experienced professionals evaluate it. Forget the $12 billion: Billiton's market cap began declining from the day it closed the acquisition and long before oil prices fell. Eventually lost $90+ billion in share value.

Not a scam: just a company way to desperate/greed/optimistic buying the wrong deal.

Again I'm not saying there aren't saying there aren't saying there aren't con men in the oil patch. But the vast majority of investors/bankers that lost money in the shale plays weren't "cheated". The heavily invested way to fast in a process they didn't fully understand. And their primary driving force: greed.

Billiton didn't get cheated: it made a huge bet in a dynamic it didn't really understand.